Senate Democrats have urged FCC Chairman Brendan Carr to investigate the foreign funding involved in the proposed acquisition of Warner Bros. Discovery (NASDAQ:WBD) by Paramount Skydance (NASDAQ: PSKY).
Senate Democrats, including Minority Leader Chuck Schumer (D-N.Y), Minority Whip Dick Durbin (D‑IL), and Senators Cory Booker (D‑NJ), Richard Blumenthal (D‑CT), Mazie Hirono (D‑HI), Sheldon Whitehouse (D‑RI), and Sen. Elizabeth Warren (D-Mass.), have written to Carr and voiced concerns regarding the foreign investment from China and Gulf states in the merger.
“This constellation of foreign investment from China and from Gulf states, with complex and sometimes competing relationships with the United States, demands rigorous, not perfunctory, review,” wrote the Senators.
The senators stressed that the current deal structure limits their ability to influence the governance or management of the merged company. Yet, the significant equity contributions from these foreign investors, along with a report of …
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